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with the lower cost of energy. but we need government to encourage these job opportunities, not continue to block them. a return to sound monetary policy would also help by making the future value of a dollar more predictable. and we must get the cost of health insurance under control. you should be able to get a health care plan that fits your needs and your budget, from any company in america that's willing to sell it to you, and with the same tax benefit if you buy it yourself or have an employer buy it for you. these ideas will help create middle class jobs. but we also have to make sure that our people have the skills to do these new jobs. and a limited government can help by promoting curriculum reform, teacher training and empowering parents with the freedom to choose their kids' school. our tax code should reward education investments the same way companies are encouraged to invest in equipment. let's encourage career, technical and vocational education, stop discriminating against online courses, encourage
with the lower cost of energy. but we need government to encourage these job opportunities, not continue to block them. a return to sound monetary policy would also help by making the future value of a dollar more predictable. and we must get the cost of health insurance under control. you should be able to get a health care plan that fits your needs and your budget, from any company in america that's willing to sell it to you, and with the same tax benefit if you buy it yourself or have an...
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the united states will soon be the world's largest energy producer. it will allow manufacturers to return in force to our shores again. american innovation promises to revolutionize healthcare, communication, and transportation. every year millions of people all around the world are entering the middle class. they are now able to afford the things we built. i have heard it suggested that the problem is that the american people have changed. too many people want things from government. i'm still convinced that the overwhelming majority of our people just want what my parents had -- a chance, a real chance to earn a good living anda few weeks ago i was giving a speech at a fancy hotel in new york city. when i arrived in the banquet hall, i was approached by a group of u employees like the ones were working here tonight in the hotel's catering department. they had heard the story and had a gift for me. it presented me with this employee name tag -- rubio, bartender. [laughter] [applause] do you know what this reminds me of? this reminds me that there are
the united states will soon be the world's largest energy producer. it will allow manufacturers to return in force to our shores again. american innovation promises to revolutionize healthcare, communication, and transportation. every year millions of people all around the world are entering the middle class. they are now able to afford the things we built. i have heard it suggested that the problem is that the american people have changed. too many people want things from government. i'm still...
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working on new technologies and new energies to have a robust economy. we're not going to grow more than 2%, which is current growth rate unless we innovate more. that will require entrepreneurs. we will not get unemployment down significantly below 8% unless we innovate more. as mark said at the beginning, almost all of the net jobs in the last 30 years have been created by young, high-growth companies so this is the place to focus. >> right here. second row. >> thank you. my name is ed bell from alexandria. i'm proud father of a fourth year at president sullivan's fine institution. the topic i have on my mind is at an intersection of the areas of interest of our fine panelists and that is online education. keck tivety, -- connectivity, internet, greater trend towards access education, making the great institutions that we have in this country available to people throughout our country and throughout the world either inexpensively or in many cases for free. and this creates in some sense a competitive landscape force across the world where we're actuall
working on new technologies and new energies to have a robust economy. we're not going to grow more than 2%, which is current growth rate unless we innovate more. that will require entrepreneurs. we will not get unemployment down significantly below 8% unless we innovate more. as mark said at the beginning, almost all of the net jobs in the last 30 years have been created by young, high-growth companies so this is the place to focus. >> right here. second row. >> thank you. my name...
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we should expand our domestic energy industry. american innovation has given us access to massive new deposits of oil and natural gas, making america one of the most energy- rich countries on the planet. this new energy opens all kinds of new middle-class jobs come from the fields and platforms woodrow, to the manufacturing plants that return to the united states with a lower cost of energy, and these are the types of jobs we need most, right now. middle-class work. we need to take full advantage of this. [applause] by tearing down unnecessary regulatory barriers to tapping our own energy sources. a sound monetary policy would also encourage. the way our interest rates and currency are treated is another cause of unpredictability injected right into our economy. we need to have a balanced approach to regulation. we need to weigh the benefit of any given regulation against the impact it will have on job creation. that is why we should implement something like senator paul's act, so that congress that's the final say on it. -- gets
we should expand our domestic energy industry. american innovation has given us access to massive new deposits of oil and natural gas, making america one of the most energy- rich countries on the planet. this new energy opens all kinds of new middle-class jobs come from the fields and platforms woodrow, to the manufacturing plants that return to the united states with a lower cost of energy, and these are the types of jobs we need most, right now. middle-class work. we need to take full...
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it is medical research, research on new energy sources. entrepreneurs come out of these kinds of advances where we see basic research funded by the government that we take for granted. if we keep cutting that and not being sure about it, even r&d tax credits. doing them retroactively benefits companies that we are doing it anyway or took a chance. we have to make it permanent. we have to say, this is something you can count on. we have to figure out how to do it. >> on entitlements, from a democratic side, in 1969, the federal government keeps track of the total share of spending that goes into investment in research and development, infrastructure, education, and training. 31.2% of the federal government was devoted to investment. 31.2% were payment to individuals. today, 50.6% of the government is investment and payment to individuals -- double what it was. from a democratic perspective, can you sustain the programs that democrats see as critical for investing in the next generation without finding ways in a graying society to control th
it is medical research, research on new energy sources. entrepreneurs come out of these kinds of advances where we see basic research funded by the government that we take for granted. if we keep cutting that and not being sure about it, even r&d tax credits. doing them retroactively benefits companies that we are doing it anyway or took a chance. we have to make it permanent. we have to say, this is something you can count on. we have to figure out how to do it. >> on entitlements,...
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correspondent for "fiscal times" on the fiscal cliff negotiations, a discussion and a look at the future energy production and consumption in
correspondent for "fiscal times" on the fiscal cliff negotiations, a discussion and a look at the future energy production and consumption in
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i hope we do more on energy issues across the board. and finally, i think making sure the united states remains competitive in what will be as the world economy recovers, which we hope it will, we have to invest in our people, education, our science. other countries are copying the model we used and made very successful. we need to do immigration reform and make sure the u.s. is competitive. >> jackie? >> i wanted to ask about several areas where the democrats leverage might not be so great. on c.p.i. and the medicare retirement age. how does the president say no to those when we came to know in july 2011 when he was negotiating with the speaker he agreed to both of those in exchange to higher revenues. the second one would be on the state tax but the democrats are split on that. i'm curious as to what -- ok, medicare age and c.p.i., the state tax and the payroll tax or its equivalent. i wound what the equivalent is. >> on the payroll tax cut or its equivalent. as you know in the december 2010 tax discussions, we agreed that we would re
i hope we do more on energy issues across the board. and finally, i think making sure the united states remains competitive in what will be as the world economy recovers, which we hope it will, we have to invest in our people, education, our science. other countries are copying the model we used and made very successful. we need to do immigration reform and make sure the u.s. is competitive. >> jackie? >> i wanted to ask about several areas where the democrats leverage might not be...
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energy revolution run its course. it might save us yet. let our entrepreneurs and workers face new directions and an american renaissance may be just ahead. by all means, let's hear no more talk of decline and decadence, the end of america, and all the rest. we have nothing to lose but our gains. there is a revolution to be one. let's get started. [applause] thank you. >> thank you very much for a thought-provoking lecture. we will now turn to your questions. after jim takes a few of your questions, we will have a reception in the lobby. there's already one in the back. >> fire away. >> thank you for that presentation. i'm a hillsdale graduate and a writer with the "washington free beacon. much has been made of the republican loss in 2012. do you think the next regime party could be a renovated republican party where we take the loss of 2012 and change everything around or do you think the democrats will learn from some of their errors in the past and reform their party? see that far into the future. i was not surpris
energy revolution run its course. it might save us yet. let our entrepreneurs and workers face new directions and an american renaissance may be just ahead. by all means, let's hear no more talk of decline and decadence, the end of america, and all the rest. we have nothing to lose but our gains. there is a revolution to be one. let's get started. [applause] thank you. >> thank you very much for a thought-provoking lecture. we will now turn to your questions. after jim takes a few of your...
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i have always been impressed by the energy position did with this country. i'm confident in the end you will find a way of doing it. i'm never so sure -- >> even the eye is on the horizon or the fetus on the ground. i take your answer confidently. i want to ask about the libor scandals. in the wake of the alleged manipulation of libor, how difficult will it be built to design and regulate it replacement? >> there are two steps in the replacement, the modification of laboratory the first is to make sure there are some rules and regulations around the way in which reporting banks to submit their quotes and the rates they calai -- claim to be relevant to their ability to borrow. it means the market will for the first time be a regulated activity. the libor quote. in the short run, that will do a great deal. the real question in the longer- term as less obvious. the first thing that clearly has to be done is that if there is to be a series of activities using these reported rates, we know there will be times when markets will be so thin, liquidity will dry out.
i have always been impressed by the energy position did with this country. i'm confident in the end you will find a way of doing it. i'm never so sure -- >> even the eye is on the horizon or the fetus on the ground. i take your answer confidently. i want to ask about the libor scandals. in the wake of the alleged manipulation of libor, how difficult will it be built to design and regulate it replacement? >> there are two steps in the replacement, the modification of laboratory the...
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energy production in 2014. we will be joined by adam sieminski and frank verrastro. >> i think writers institute is something that is very important within the culture. we are a culture of words, of voices. words are key to our imagination, our capacity to invasion -- envision things. we ourselves are not completely tied to print on the page, but there is no other art forms so readily accessible other than perhaps film, which we work with, too. there is something in literature that just captures the human spirit. >> this weekend, joined "book tv" and "american history tv" as we look at the historic and literary life of new york's capital, albany. >> the chiefs of staff had to make the plan for the invasion of japan without considering the atomic bomb. it was estimated it would cost 700,000. >> i choose to honor both, both the sacrifice of american servicemen fighting their way to the pacific and of a little girl who died as a result of an atomic bombing. it is unimaginable but that must of been like -- what tha
energy production in 2014. we will be joined by adam sieminski and frank verrastro. >> i think writers institute is something that is very important within the culture. we are a culture of words, of voices. words are key to our imagination, our capacity to invasion -- envision things. we ourselves are not completely tied to print on the page, but there is no other art forms so readily accessible other than perhaps film, which we work with, too. there is something in literature that just...
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that would mean a $148 million cut to the department of energy's energy efficiency and renewable energy program alone. these cuts would tremendously damage our ability to develop the clean energy technologies of tomorrow, technologies that lead to not only lower energy bills for our constituents but also to new businesses and middle-class jobs. i see it every day in my congressional district where cutting edge companies like launch point technologies can transform and use federal funding to develop new exciting ideas that would otherwise lange wish on the drawing board -- languish on the drawing board. the threat of the fiscal cliff is real. we need to come together and pass a balanced package that continues building for a clean energy future. i yield back the balance of my time. the speaker pro tempore: the chair lays before the house an enrolled bill. the clerk: h.r. h.r. 2467, an act to take serl federal lands in mono county, california, into trust for the benefit of the bridgeport indian colony. the speaker pro tempore: pursuant to clause 8 of rule 20, the chair will postpone furthe
that would mean a $148 million cut to the department of energy's energy efficiency and renewable energy program alone. these cuts would tremendously damage our ability to develop the clean energy technologies of tomorrow, technologies that lead to not only lower energy bills for our constituents but also to new businesses and middle-class jobs. i see it every day in my congressional district where cutting edge companies like launch point technologies can transform and use federal funding to...
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the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the deficit that would have fallen. still bad, but remarkably better than where we find ourselves today. republicans stand ready to work with president obama for a balanced and bipartisan solution. so far, no evidence of that. let's create a long-term solution that does not burden individuals and gives businesses optimism to go forward and invest in the american economy. then the economy can grow for all citizens. i look forward to the testimony of our witnesses. >> thank you. i will introduce our two witnesses. dr. zandi is the chief economist at moody's analytics. he looks at macro racquets and public policy. he is the influential source of policymakers and businesses and journalists. recently he publi
the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the deficit that would have fallen. still bad, but remarkably better than where we find ourselves today. republicans stand...
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our energy costs are starting to go down here in the united states. and we still have the largest market. so when you factor in everything, it makes sense to invest here, in america. and that's one of the reasons why american manufacturing is growing at the fastest pace since the 1990s. and thanks in part to that boost in manufacturing, four years after the worst economic crisis of our lifetimes, our economy is growing again. our businesses have created more than 5.5 million new jobs over the past 33 months. so we're making progress. [applause] we're moving in the right direction. we're going forward. so what we need to do is simple. we need to keep going. we need to keep going forward. we should do everything we can to keep creating good middle- class jobs that help folks rebuild security for their families. [applause] and we should do everything we can to encourage companies like daimler to keep investing in american workers. and by the way, what we shouldn't do -- i just got to say this -- what we shouldn't be doing is trying to take away your righ
our energy costs are starting to go down here in the united states. and we still have the largest market. so when you factor in everything, it makes sense to invest here, in america. and that's one of the reasons why american manufacturing is growing at the fastest pace since the 1990s. and thanks in part to that boost in manufacturing, four years after the worst economic crisis of our lifetimes, our economy is growing again. our businesses have created more than 5.5 million new jobs over the...
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we're seeing nuclear energy, for example, nuclear power plants will come to the region relatively soon if the arab spring does not interfere with those plans. the projections that are on the books come to be realized. if you go country by country and realize what the motivations might be, there are many factors and might lead in a different direction. it is difficult to make nuclear weapons. we would certainly push back on any of these states that are seeking to acquire nuclear arms. many of the states are very dependent on us. even saudi arabia is dependent on us to protect them right now , and provide advanced military equipment. that relationship would be completely endangered if they were seen to be moving down the wrong track. the same is true for egypt. maybe algeria, any other state we would like to identify. i do not need the cascade and to get extremely nervous about iran. there is much to worry about there. just an iran per se, and the threat they will present to us and others. focusing on iran because of what it can do itself. >> let me be a little more pessimistic. prolifer
we're seeing nuclear energy, for example, nuclear power plants will come to the region relatively soon if the arab spring does not interfere with those plans. the projections that are on the books come to be realized. if you go country by country and realize what the motivations might be, there are many factors and might lead in a different direction. it is difficult to make nuclear weapons. we would certainly push back on any of these states that are seeking to acquire nuclear arms. many of...
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i'm older and i have less energy. so that makes it harder. >> and tell us something about the obama white house that we don't know. >> what does obama think of mitt romney? what does he really think? and i think he feels that romney is incompetent because he didn't run a better campaign. and i suspect that one of the themes in all the coverage of the campaign is going to be romney never found a way to -- either the method or the theme of how to run against obama. whereas they thought it was going to be easy. >> we're about to give the hook here. what is the one thing you would like to know about president obama that you don't? >> oh, i did ask him this. i didn't put it in the book. he keeps a diary. and so i'd like to have access. [laughter] >> assume that's for -- >> do you keep a diary? yes. not on all this detailed kind of -- let's see it. so that's going to -- i'm sure he will write a really interesting memoir. >> what did he tell you about the diary? >> that it existed. no detail. he didn't offer any of it or rea
i'm older and i have less energy. so that makes it harder. >> and tell us something about the obama white house that we don't know. >> what does obama think of mitt romney? what does he really think? and i think he feels that romney is incompetent because he didn't run a better campaign. and i suspect that one of the themes in all the coverage of the campaign is going to be romney never found a way to -- either the method or the theme of how to run against obama. whereas they...
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the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the deficit that would have fallen. still bad, but remarkably better than where we find ourselves today. republicans stand ready to work with president obama for a balanced and bipartisan solution. so far, no evidence of that. let's create a long-term solution that does not burden individuals and gives businesses optimism to go forward and invest in the american economy. then the economy can grow for all citizens. i look forward to the testimony of our witnesses. >> thank you. i will introduce our two witnesses. dr. zandi is the chief economist at moody's analytics. he looks at macro racquets and public policy. he is the influential source of policymakers and businesses and journalists. recently he publi
the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the deficit that would have fallen. still bad, but remarkably better than where we find ourselves today. republicans stand...
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we could see a recurrence of the energy crisis, where i first met mr. peterson. which completely blindsided the government. what can we do to get this out in a clear way? >> your the chairman. >> this is a subject i have thought about. i tend to think the two possible crises -- one is a short to medium term crisis. in which, as we experience partly at the time of the debt limit and the super committee debacle, financial markets lose confidence in our country and you have eight european or many -- a mini-european stock prices. at which point it is hard to get money, interest rates go up and so forth. even in the best case, if we do not take action you have a long- term growth crisis. what does it take for us to grow? it takes investment in the future. it takes investment in equipment and r&d and science and education and infrastructure and so forth. the question many people do not want to consider is, where do we get those resources with those enormous debts? i asked our research department if they would make a reasonable prediction of how important interest costs
we could see a recurrence of the energy crisis, where i first met mr. peterson. which completely blindsided the government. what can we do to get this out in a clear way? >> your the chairman. >> this is a subject i have thought about. i tend to think the two possible crises -- one is a short to medium term crisis. in which, as we experience partly at the time of the debt limit and the super committee debacle, financial markets lose confidence in our country and you have eight...
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i want to make sure america leads the world and research and clean energy. i want to put people back to work rebuilding our roads and bridges and schools. that is how we grow an economy. i want to bring down our deficit. i want to do it in a balanced and responsible way. i want to tax code the rewards. manufacturers are creating jobs right here in redbird -- redford and michigan and the united states of america. that is where we need to go. that is the country we need to build. when it comes to bringing up manufacturing to america, that is why i am here today. since 1938 detroit has been turning out some of the best engines in the world. over all those years generations of workers have walked through these doors. not just to punch a clock or pick up a paycheck or build an engine. but to build a middle-class life for their families. to earn a shot at the american dream. for 7.5 decade through revolutions and technologies, men and women like you have done your part to build up america's manufacturing strength. that is something we can all be proud of. now you
i want to make sure america leads the world and research and clean energy. i want to put people back to work rebuilding our roads and bridges and schools. that is how we grow an economy. i want to bring down our deficit. i want to do it in a balanced and responsible way. i want to tax code the rewards. manufacturers are creating jobs right here in redbird -- redford and michigan and the united states of america. that is where we need to go. that is the country we need to build. when it comes to...
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the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the deficit that would have fallen. still bad, but remarkably better than where we find ourselves today. republicans stand ready to work with president obama for a balanced and bipartisan solution. so far, no evidence of that. let's create a long-term solution that does not burden individuals and gives businesses optimism to go forward and invest in the american economy. then the economy can grow for all citizens. i look forward to the testimony of our witnesses. >> thank you. i will introduce our two witnesses. dr. zandi is the chief economist at moody's analytics. he looks at macro racquets and public policy. he is the influential source of policymakers and businesses and journalists. recently he publi
the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the deficit that would have fallen. still bad, but remarkably better than where we find ourselves today. republicans stand...
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do you think exploring in a dispute order -- the energy in a dispute order is a good behavior to calm down a situation over there? thank you. >> let me say, and this relates to the earlier question, obviously we have seen these new regulations having been issued in hainan. they do raise some concerns not just in the united states but regionally. we have gone in at high levels and asked for clarification and underscored our overall policy of seeking to avoid provocations and to maintain peace and stability more generally. one of the challenges that we face, and richard alluded to it, is that many people believe that some of these areas involve very potentially rich resources and reserves of natural gas and petroleum. i think, in certain circumstances in the south china sea and elsewhere, we have seen countries that have been able to come to terms on exploration and exploitation of potential reserves in circumstances in which sovereignty is still unresolved. that's extremely difficult, we recognize that, but ultimately we encourage those kinds of discussions. they're not appropriate in
do you think exploring in a dispute order -- the energy in a dispute order is a good behavior to calm down a situation over there? thank you. >> let me say, and this relates to the earlier question, obviously we have seen these new regulations having been issued in hainan. they do raise some concerns not just in the united states but regionally. we have gone in at high levels and asked for clarification and underscored our overall policy of seeking to avoid provocations and to maintain...
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look, we heard from the ranking member of the energy and commerce committee that the f.d.a. had deemed the active pharmaceutical ingredient in primatene mist to be dangerous. what is the active ingredient in primatene mist? it's epinephrine. we heard from the gentlelady from florida that a product in her district was a good product and was available. what's the active pharmaceutical ingredient in there? epinephrine. the difference is the propelent which is the object of our discussion here today. now, i will tell you as an yazz -- asthmatic patient, i will just tell you, the replacement propelent that is available in albutte roll inhalers does -- albuter ol inhalers does not -- go to the facebook page who one after the other will delineate why c.f.c. worked for them when h.f.a. containing products does not. what about epinephrine, there is an ultrasonic nebraska lieser. a unique approach that frankly i welcome. let me stress, madam speaker, although this product, epinephrine, is available without a prescription, it's not generally available over the counter. and i know this
look, we heard from the ranking member of the energy and commerce committee that the f.d.a. had deemed the active pharmaceutical ingredient in primatene mist to be dangerous. what is the active ingredient in primatene mist? it's epinephrine. we heard from the gentlelady from florida that a product in her district was a good product and was available. what's the active pharmaceutical ingredient in there? epinephrine. the difference is the propelent which is the object of our discussion here...
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years and been a role model for me being on the ways and means committee and the house committee in energy and commerce. thank you for your service and friendship. it is hard to go through this list. mr. miller, this is a wonderful privilege to say thank you, the countless hours that you could add up for the service to constituents and the tremendous leadership within this body and these members who have given their all and will not be back at the 113th. it's important to say their names and to honor them and give them credit for what they have done. joe baca has been a fixture for the central valley and agriculture, someone who has agriculture number one in my district as well. but there is much to remember joe baca for and his contributions in agriculture and the financial services committee as well. my colleague, former colleague, bob filner, who has already assumed another position within our government, as mayor of san diego. i think of bob filner and i think of veterans' issues and he was a college professor before he came to congress, as my husband was and reached out to each other
years and been a role model for me being on the ways and means committee and the house committee in energy and commerce. thank you for your service and friendship. it is hard to go through this list. mr. miller, this is a wonderful privilege to say thank you, the countless hours that you could add up for the service to constituents and the tremendous leadership within this body and these members who have given their all and will not be back at the 113th. it's important to say their names and to...